Intrinsic Semiconductor Technologies raises £1.4m in seed funding to prototype new memory devices
The seed round was led by UCL Technology Fund and IP Group to help fund memory device prototyping.
Intrinsic Semiconductor Technologies builds non-volatile memory technology designed to embed intelligence into small devices. The company develops resistive random-access memory solutions originating from research at University College London.
Intrinsic Semiconductor Technologies has secured £1.4m in a seed funding round led by UCL Technology Fund and IP Group. The capital will be used to partner with semiconductor research foundry imec in Belgium to develop prototypes of its proprietary non-volatile memory devices. The technology aims to provide a high-performance alternative to traditional flash memory by utilising standard CMOS processing techniques.
Invented by researchers Tony Kenyon and Adnan Mehonic, the company commercialises memristor technology designed to overcome processing limitations in artificial intelligence and the Internet of Things. The latest financing allows the London-based business to advance its development roadmap and move closer to establishing its designs as licensable intellectual property for chip manufacturers.
From the founder
"Existing memory technologies, such as Flash, are reaching the limits of their capabilities – particularly in embedded systems such as those we need in IoT devices. Intrinsic’s memristor technology will transform next generation systems by combining high performance with ease of integration in digital CMOS. By basing our devices on silicon oxide, we ensure that they are as simple and as cheap to integrate with silicon-based electronics as it is possible to be."
Tony Kenyon
Professor at Intrinsic Semiconductor Technologies
Investor perspective
"The ground-breaking approach to creating digital memory being commercialised at Intrinsic will not only offer a solution to the bottleneck in current systems, but will allow the creation of new computing architectures for emerging sectors including artificial intelligence. IP Group is delighted to be part of Intrinsic’s journey from the outset."
Lee Thornton
Partner (Deeptech), IP Group
Use of funds
- 01Continue product development
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About the company
Intrinsic Semiconductor Technologies
Intrinsic Semiconductor Technologies develops resistive random-access memory to enable smart devices.